Golden Nugget Extends A Golden Offer To New Jersey Online Casino Players
Golden Nugget is making an aggressive push for online gaming share in the New Jersey online casino market, as the casino recently announced it would cover a player’s initial deposit up to $200.
100 percent cash back on deposits from $30 to $200
First-time players depositing at least $30, and entering a bonus code, will be eligible to receive the cashback offer.
The promotion, which began on June 22, will run through the end of the year as Golden Nugget hopes to solidify its already strong position among virtual casinos in the state.
Robert DellaFave outlined the advantages of the Golden Nugget promotion over similar offers in the state:
- Match bonuses are subject to rigid wagering requirements, often tasking gamblers with playing through a sum equal to 20 times that of the bonus amount. Contrarily, loss back bonuses are awarded as cash that can be immediately withdrawn.
- Slots are usually the only game format that count 100% toward a match bonus wagering requirement. Loss back bonuses are game independent.
- Match bonuses have an expiration date, usually between 30 to 90 days from the time the qualifying deposit was made.
- By nature, 100% loss back promotions guarantee that the player cannot lose.
Golden Nugget and BetFair: unlikely champions
In terms of revenue, Golden Nugget and its online partner BetFair have remained competitive with New Jersey pack leaders Caesars/Harrah’s (888), The Borgata (PartyPoker), and Tropicana (Virgin).
In unlikely fashion, Golden Nugget and BetFair topped revenue charts in consecutive months. Golden Nugget and BetFair have exceeded expectations in New Jersey since the partnership began in late 2014, when BetFair’s previous Atlantic City partner Trump Plaza closed its doors.
In April, the duo set a record for single-month revenue in the state’s nascent industry, posting $3.304 million in receipts and besting the mark of $3.042 million posted months earlier by Tropicana. Golden Nugget owner Landry’s, Inc., has been active in New Jersey gaming since purchasing the casino from Trump Entertainment Resorts in 2011.
The company, helmed by CEO Tilman J. Fertitta, initially rose to prominence as a holder of restaurant properties and now holds a wide swath of entertainment and hospitality interests, including a popular Atlantic City nightclub.
NJ online gambling industry faring well, says casino czar
As a whole, the New Jersey online gaming industry has performed well in 2015, with full-year estimates nearing $150 million.
While brick and mortar business in Atlantic City has ebbed in recent months, online play has been credited with providing a layer of stability for casinos.
“When you look at the first four months of this year, revenues are still running 3.5 percent above last year’s levels,” said Matthew Levinson, chairman of the state’s Casino Control Commission. “In addition, Internet gaming revenue continues to grow.”
Levinson also cited increased hiring by casinos as an indicator of the industry’s health.